Company Registration No. 04519491 (England and Wales)
NEWSRACK LTD
Unaudited accounts
for the year ended 31 March 2021
NEWSRACK LTD
Unaudited accounts
Contents
NEWSRACK LTD
Company Information
for the year ended 31 March 2021
Directors
Atif Mahmood Rashid
Farkhanda Atif
Company Number
04519491 (England and Wales)
Registered Office
4 Railway Street
Huddersfield
West Yorkshire
HD1 1JP
United Kingdom
Accountants
West Yorkshire Accountancy Services
4 Railway Street
Huddersfield
West Yorkshire
HD1 1JP
NEWSRACK LTD
Statement of financial position
as at 31 March 2021
Intangible assets
127,000
127,000
Tangible assets
152,848
153,523
Cash at bank and in hand
25,375
29,753
Creditors: amounts falling due within one year
(250,998)
(256,220)
Net current liabilities
(224,591)
(225,544)
Total assets less current liabilities
55,257
54,979
Creditors: amounts falling due after more than one year
-
(23,329)
Called up share capital
100
100
Profit and loss account
55,157
31,550
Shareholders' funds
55,257
31,650
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2021 and were signed on its behalf by
Atif Mahmood Rashid
Director
Company Registration No. 04519491
NEWSRACK LTD
Notes to the Accounts
for the year ended 31 March 2021
NEWSRACK LTD is a private company, limited by shares, registered in England and Wales, registration number 04519491. The registered office is 4 Railway Street, Huddersfield, West Yorkshire, HD1 1JP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance basis
Fixtures & fittings
25% reducing balance basis
Computer equipment
20% reducing balance basis
4
Intangible fixed assets
Goodwill
NEWSRACK LTD
Notes to the Accounts
for the year ended 31 March 2021
5
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2020
150,651
2,203
4,162
2,098
159,114
At 31 March 2021
150,651
2,203
4,162
2,098
159,114
At 1 April 2020
-
1,506
2,846
1,239
5,591
Charge for the year
-
174
329
172
675
At 31 March 2021
-
1,680
3,175
1,411
6,266
At 31 March 2021
150,651
523
987
687
152,848
At 31 March 2020
150,651
697
1,316
859
153,523
6
Debtors: amounts falling due within one year
2021
2020
7
Creditors: amounts falling due within one year
2021
2020
Taxes and social security
8,577
5,594
Other creditors
10,000
17,000
Loans from directors
232,421
233,626
8
Creditors: amounts falling due after more than one year
2021
2020
9
Average number of employees
During the year the average number of employees was 0 (2020: 0).
